Paragon Bank completes £6.4m funding facility for new North Wales housing scheme

Cheshire-based developer Hall & Co Property has secured a £6.4m funding facility from Paragon Bank and a £1.4m equity investment from the Housing Growth Partnership (HGP) to support its Y Bluen Goch development in Conwy, North Wales.

The scheme will consist of 24 houses, three of which will be affordable and therefore available to local residents at a reduced price. 

Within the development, there will be a mixture of two, three, and four-bedroom detached and semi-detached houses, as well as an existing house that will be converted into four houses. 

The properties will benefit from picturesque views of Snowdonia to the south and sea views to the north.

The scheme is due to be completed in October 2025. 

This deal was led on behalf of Paragon’s development finance team by senior relationship director Nigel Jackson, with support from senior portfolio manager Shannon Altimas. 

Andrew Hall, managing director at Hall & Co Property, commented: “We are extremely excited to bring this development forward after a challenging planning process and our partners HGP and Paragon Bank have been pivotal in making that possible. 
“Y Bluen Goch will be one of the most prestigious developments Hall & Co have delivered to date and are already seeing a lot of enquiries from local buyers since work began on site!

“The site is set in one of the most stunning areas of the country and thus we have ensured that the properties sit beautifully within the vernacular of their surroundings.”

Nigel added: “We’re delighted to have worked with Hall & Co Property on this exciting new scheme in Conwy helping to bring some new housing to this picturesque area in North Wales. 

“It's been brilliant to work with this family-run business who pride themselves on the quality of the developments and we hope to work with them again in the near future.”

John McKeon, director at HGP said: “We are extremely pleased to have made our first investment alongside the Hall & Co team in this unique, picturesque site in Conwy, North Wales.

“This represents one of our first investments in North Wales and we look forward to working with Andrew, Jamie, Charlotte and the rest of the team on this development and hopefully future schemes as they take the business forward.”

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